Sales of 106.2 billion KRW and operating profit of 8.791 billion KRW
Highest quarterly performance since establishment in 1971
Lotte Tour Development posted its largest-ever profit in the first quarter of this year, driven by the strong performance of its foreigner-only casino business.
On the 14th, Lotte Tour Development announced through a public disclosure that its sales for the first quarter of this year reached 106.2 billion KRW, marking an all-time high, and operating profit also achieved a record quarterly high of 8.791 billion KRW.
EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization), which indicates a company's profit-generating ability, rose 135.1% compared to the previous quarter, reaching 29.09 billion KRW from 12.341 billion KRW.
The large-scale profit turnaround in the first quarter was driven by the rapid growth of the casino sector. The Dream Tower Casino at Jeju Dream Tower Complex Resort recorded sales exceeding 70 billion KRW (70.08 billion KRW) for the first time in the first quarter of this year. This represents a 34.5% increase from the fourth quarter of last year (52.065 billion KRW) and a 328% increase compared to the first quarter of last year (16.357 billion KRW). The travel business division also achieved sales of 17.92 billion KRW, up 58.4% from 11.316 billion KRW in the same period last year.
Lotte Tour Development emphasized, "Not only has the core casino business made a full-fledged leap forward, but the traditional travel business also demonstrated strong capabilities, resulting in the highest quarterly profit since the company's founding in 1971. We have confirmed significant potential in cash generation ability, which is the most important indicator of the company's future value."
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